MCLEAN, Va. -- A survey financed by card issuer Capital One has found that while a majority of teenagers desire to get some sort of education about how to manage their money, most never get any.

According to the issuer's 7th annual back-to-school spending survey, 52% of teenagers surveyed want to learn how to manage money and 80% believe doing so will help them in the future. At the same time the survey found that 86% of the teenagers surveyed have never taken a personal finance class in school and 35% want their parents to teach them.


"Now more than ever, we're seeing that teens are eager to learn about money--and the good news is that they want to learn from their parents," says Lahne Mattas-Curry, financial education spokesperson for Capital One. "Back to school shopping is often overlooked as a financial education opportunity, but it's a great way for parents to teach kids about the basics of money, including how to prioritize needs vs. wants and create a budget."

According to the survey, only 19% of parents have discussed back-to-school budgeting with their children and only 22% have made a list of back-to-school items to purchase.

Further, while 48% of parents have discussed the difference between "needs" vs. "wants"; 36% have not discussed back to school finances at all with their teens.

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